USDJPY – Down
USDJPY trading plan:
U.S. consumer prices rose less than expected for a second straight month in November amid decreases in the costs of gasoline and healthcare as well as used cars and trucks, leading to the smallest annual increase in inflation in nearly a year. Underlying consumer prices advanced by the least in 15 months, the report from the Labor Department on Tuesday also showed, clearing the way for the Federal Reserve to start scaling back the size of its interest rate hikes. The Fed, in the midst of its fastest rate-hiking cycle since the 1980s, is expected to lift its benchmark overnight interest rate by 50 basis points today, snapping a string of four straight 75-basis-point increases. Economists still expected the Fed to maintain its monetary policy tightening campaign at least through the first quarter of 2023.
Investment idea: sell 135.75 and take profit 135.00.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
